Country Analysts

Francisco de Paula Gutiérrez
Former Finance Minister and Central Bank President
Felix Delgado
General Manager, Central Bank

In The News


Click here to access the latest Macroeconomic Databank

Recent Country Insights

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El Salvador: Stagnation and Mystery
CENTRAL AMERICA - Report 24 Apr 2019
El Salvador’s economic growth/financial stability balance is clearly biased toward the former, as shown by modest real GDP growth averaging 2.5% y/y between 2010 and 2018. Expected growth won’t be different for 2019 and 2020. The roots of long-running stagnation are diverse, and reflected in pote...

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Guatemala: All eyes on a crowded field
CENTRAL AMERICA - Report 01 Apr 2019
Guatemala. Elections and expectations for the new presidency will be the main focus in Guatemala this year.The first round of voting, which could include as many as 24 candidates, is set for June 16th. If no candidate wins 50% of the vote, plus 1 vote more, there’ll a runoff on August 11th. The n...

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COSTA RICA: Hesitation could hurt
CENTRAL AMERICA - Report 27 Feb 2019
Costa Rica’s economic outlook in 2019 is expected to be similar to that of 2018, in terms of the main macroeconomic indicators. The fiscal reform package approved in December 2018 was significant enough to curve negative expectations through H2 2018, when uncertainty and lack of confidence over t...

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EL SALVADOR: Nayib Bukele wins presidential election in the first round
CENTRAL AMERICA - Report 06 Feb 2019
As we have been updating in previous reports, presidential election in El Salvador took place last Sunday February 3rd, 2019. By Monday the Electoral Court announced Nayib Bukele as the winner by an ample majority of 53% of valid votes. His two main contenders came from the two political parties ...

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Costa Rica: Time to deliver
CENTRAL AMERICA - Report 30 Jan 2019
Costa Rica: After tense months filled with debates over fiscal issues, and questions over the day-to-day difficulties of handling largely unbalanced fiscal accounts, the waters seem to be calming. Discussions in December were concentrated on the implications of Moody’s sovereign ratings downgrade...

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Costa Rica: Two cheers for fiscal reform
CENTRAL AMERICA - Report 27 Dec 2018
Costa Rica’s significant political step, of congressional approval of the fiscal reform package, has generated mixed results. It brought some calm and lowered uncertainty, by building up confidence in the political system’s capacity to make decisions, even when unpopular measures are required. In...

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Fiscal reform in Costa Rica at last
CENTRAL AMERICA - Report 04 Dec 2018
After almost two decades discussing fiscal reform in Costa Rica, yesterday, December 3, 2018, Congress finally approved the law in the second lecture, with 34 votes in favor and 17 against. The new law was sanctioned the same day by President Carlos Alvarado and Minister of Finance Rocio Aguilar....

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Costa Rica: Constitutional Court approves fiscal reform package
CENTRAL AMERICA - Report 28 Nov 2018
Costa Rica’s Constitutional Court on November 23 unanimously green-lighted the fiscal reform package. The decision came after a public service workers' strike, and more than a year of discussions. The Supreme Court had indicated that the plan, approved by the Legislative Assembly 35-22 in its fi...

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Costa Rica: Green light from Constitutional Court
CENTRAL AMERICA - Report 26 Nov 2018
​On Friday, November 23rd, the Constitutional Court (“Sala IV”) gave green light to the fiscal reform package with a unanimous 7-0 vote. The decision came after a public service workers general strike and more than one-year discussions on the project. It also came after the Supreme Court indica...

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